May 2026
📣 VC round data is live. Check it out!
Largest CannaTech Public Companies in Canada
Benchmark revenue and EBITDA valuation multiples for public comps like
Cronos Group, Verano Holdings, Canopy Growth, SNDL and TerrAscend.
 | Cronos Group Inc headquartered in Toronto, Canada, cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis primarily to Israel. In the U.S., the company has an option to acquire 5.9% of U.S. multistate operator PharmaCann on a fully diluted basis upon easing of federal prohibition. | $3 | +32% | $972M | $151M | 1.0x | 129.7x | ||
| Verano Holdings Corp is a vertically integrated multi-state cannabis operator in the United States. The Company has two reportable segments: (i) cultivation (wholesale) and (ii) retail. The company's consumer brands include Encore, Avexia, MUV, Savvy, BITS and Verano. The company's retail dispensaries operate under brands including Zen Leaf and MUV. The company derives its revenues from Retail segment. | $1 | +98% | $455M | $878M | — | — | ||
| Canopy Growth Corp, cultivates and sells medicinal and recreational cannabis and hemp through a portfolio of brands that include Doja, LivRelief, Ace Valley, Deep Space, and others. The Company is engaged in reportable segments namely: Canada cannabis, International markets cannabis, Storz & Bickel, and This Works. The company generates maximum revenue from Canadian cannabis. | $1 | -24% | $418M | $333M | 1.7x | (19.4x) | ||
| SNDL Inc is a private-sector liquor and cannabis retailer in Canada with retail banners that include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, and Spiritleaf. The principal activities of the company are the retailing of wines, beers, and spirits. It comprised four reportable segments: liquor retail, cannabis retail, cannabis operations, and investments. Liquor retail includes the sale of wines, beers, and spirits through owned liquor stores. The company generates maximum revenue from liquor retail. | Alcohol+1 | $1 | +8% | $357M | $321M | 0.5x | 6.2x | |
| TerrAscend Corp is a company focused on creating and delivering quality cannabis products and services that meet the evolving needs of its patients. It also provides education and support programs to physicians and patients through healthcare professionals. In addition, the Company has retail operations in Ontario, Canada, with a majority-owned dispensary in Toronto, Ontario, Canada. It has one operating segment, being the cultivation, production, and sale of cannabis products, with subsidiaries located in Canada and the United States. | $1 | +91% | $210M | $425M | — | — | ||
| High Tide Inc is a downstream-focused retailer of cannabis products, distributor, and seller of smoking accessories and cannabis lifestyle products. It is a vertically integrated company in the Canadian cannabis market with various brands in its portfolio such as Canna Cabana, Fastendr, Queen of Bud, Grasscity, Daily High Club, and others. The company's reportable operating segments are: Bricks and mortar, which generates maximum revenue, and E-commerce. Geographically, it derives maximum revenue from its business in Canada, followed by the United States of America, and other international markets. | Cannabis+1 | $2 | +6% | $208M | $291M | 0.7x | 10.3x | |
| Aurora Cannabis Inc headquartered in Edmonton, Canada, cultivates and sells medicinal and recreational cannabis through a portfolio of brands that includes Drift, San Rafael '71, Daily Special, Whistler, Being, and Greybeard. Although the company operates in Canada, it has expanded internationally through medical cannabis exporting agreements. The company opertes in Canada, Europe, Australia, and Others, with majority revenue from Canada. | $3 | -37% | $195M | $189M | 0.8x | 5.1x | ||
| Cannara Biotech Inc is a vertically integrated producer of premium-grade cannabis and cannabis-derivative products for Canadian markets. The company owns two mega Quebec-based facilities. The company operates in in two segments; Indoor cannabis operations segment which includes the cultivation, processing and sale of dried cannabis and cannabis derivatives for the Canadian market and the Real estate operations segment related to the Farnham and Valleyfield building. Majority of the revenue for the company is generated from its Cannabis operations segment. . | $1 | -- | $125M | $134M | 1.7x | 6.5x | ||
| iAnthus Capital Holdings Inc is a vertically-integrated multi-state owner and operator of licensed cannabis cultivation, processing, and dispensary facilities. The company's operating segments include the Eastern Region and Western Region. It generates a majority of its revenue from the Eastern Region. The Eastern Region includes the company's operations in Florida, Maryland, Massachusetts, New York, New Jersey, Vermont, and its CBD business. Its Western Region includes the company's operations in Arizona, Colorado, and Nevada. | Cannabis+1 | $0 | +1% | $25M | $242M | — | — | |
| HYTN Innovations Inc formulates, manufactures, markets, and sells premium cannabis goods. The company generates revenue from the sale of cannabis-related products such as Cannabis-beverage sales, Cannabis - flower sales, Cannabis - edible sales. The majority of revenue is generated from Cannabis - beverage sales. | $0 | -- | $16M | $17M | 14.1x | (20.5x) | ||
| Lexaria Bioscience Corp is a biotechnology company focused on enhancing the bioavailability of active pharmaceutical ingredients using its patented DehydraTECH drug delivery technology. DehydraTECH improves absorption, effectiveness, and tolerability and can be applied to APIs such as GLP-1 and GIP drugs, vitamins, pain medications, hormones, antivirals, nicotine and cannabinoids across therapeutic areas including diabetes, weight loss, epilepsy, hypertension, and heart disease. It can be used in formats such as tablets, capsules, oral suspensions, foods, beverages, and pouches, and supports pharmaceuticals, nutraceuticals, over-the-counter products, and consumer packaged goods. The Company operates one segment: IP licensing, generating revenue from licensing its DehydraTECH technology. | $1 | -43% | $14M | $9M | 13.1x | (0.8x) | ||
| Humanoid Global Holdings Corp operates as an investment issuer. The company provides capital and support services to multiple emerging industries, including esports and psychadelics. | $0 | -- | $9M | $6M | 717.0x | (4.5x) | ||
| Aion Therapeutic Inc is in the business of research and development, treatment, data mining, and state of the art artificial intelligence techniques, focused on the development of combinatorial pharmaceuticals, nutraceuticals, and cosmeceuticals utilizing compounds from cannabis, psychedelic mushrooms, fungi, natural psychedelic formulations, and other medicinal plants in a legal environment for this type of discovery. During the year ended the Company had one operating segment, being health and wellness, dedicated to delivering state-of-the-art water filtration solutions. Geographically company earns revenue from USA. | Cannabis+1 | $0 | -- | $2M | $4M | 14.4x | (0.9x) | |
| Pharmadrug Inc is a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics and naturally derived approved drugs. The Company’s operations comprise of the corporate division in Canada. Geographically, it operates in Germany and Canada. | $0 | -- | $1M | $3M | — | (48.8x) | ||
| RAMM Pharma Corp is engaged in the pharmaceutical and medical product business, including cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products. The group generates revenue from the sale of medical devices and consumables, the sale of pharmaceutical products, and sale of cosmetics. Geographically, it derives a majority of its revenue from Uruguay. | Cannabis+1 | $0 | -- | $1M | $631K | 0.3x | (0.1x) | |
| Lift & Co Corp operates as a cannabis media and technology company. The company offers a platform through which it provides events, industry publications, medical cannabis products patient reviews, and information. Its generates revenue from the company's events marketing business. | Cannabis+3 | -- | -- | $282K | $4M | — | — | |
| Digicann Ventures Inc Formerly Agra Ventures Ltd is a pharmaceutical company engaged in the sale of cannabis-related products. The company's geographic segment includes Germany and Canada, with the majority of sales coming from Germany. | $0 | -- | $88K | $752K | — | (6.3x) | ||
| Thoughtful Brands Inc, formerly Mota Ventures Corp is a provider of a wide range of CBD products in the United States and Europe. The company sells in the US through its first-class CBD brand which sells a CBD hemp-oil formulation derived from hemp grown and cultivated in the United States. | -- | -- | $0K | $1M | — | — | ||
| Median | $1 | +6% | $21M | $76M | 1.7x | (0.8x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.